PPD recorded net revenue of $375.0 million for the fourth quarter of
2007, an increase of 15.0 percent over net revenue of $326.2 million for
the fourth quarter of 2006. Fourth quarter 2007 income from operations was
$56.0 million, compared to income from operations of $58.0 million for the
same period in 2006. Research and development expense for the fourth
quarter 2007 was $5.0 million, compared to $1.6 million for the same period
last year. The increase in R&D expenses was related to the costs incurred
in conducting trials for PPD's statin compound for the treatment of
dyslipidemia. Fourth quarter 2007 earnings per diluted share were $0.34,
compared to earnings per diluted share of $0.35 for the same period last
year.

Net revenue for the full year ended December 31, 2007 was $1.4 billion,
an increase of 13.4 percent over net revenue of $1.25 billion for 2006.
Full year 2007 income from operations was $230.0 million compared to 2006
income from operations of $220.0 million. Research and development expense
for the full year 2007 was $19.2 million compared to $5.4 million for 2006.
As with fourth quarter 2007, the increase in R&D expenses was due to costs
incurred on PPD's statin compound. Earnings per diluted share for full year
2007 were $1.36, compared to earnings per diluted share of $1.32 over the
same period in 2006.

Development

Development segment net revenue for the fourth quarter of 2007 was
$334.9 million, an increase of 15.1 percent over the same period in 2006.
Development segment income from operations for the fourth quarter of 2007
was $59.1 million, compared to $58.7 million for the same period in 2006.

Full year 2007 development segment net revenue was $1.28 billion, an
increase of 14.6 percent compared to 2006. Development segment income from
operations for the full year 2007 was $246.6 million, an increase of 17.1
percent compared to development segment income from operations of $210.6
million in 2006.

Discovery Sciences

Discovery sciences segment net revenue for the fourth quarter of 2007
was $6.4 million, compared to $5.2 million in the same period last year.
Discovery sciences segment fourth quarter 2007 loss from operations was
$3.1 million, compared to a loss from operations of $0.7 million for the
fourth quarter of 2006.

Full year 2007 discovery sciences segment net revenue was $20.0
million, compared to $33.2 million in 2006. Full year 2006 discovery
sciences segment net revenue included a $15.0 million milestone payment for
the start of the Phase III clinical trial for Takeda's DPP-4 candidate.
Discovery sciences segment loss from operations for 2007 was $16.6 million,
compared to income from operations of $9.4 million for 2006.

Other Financial Information

Gross new business authorizations for the fourth quarter of 2007
totaled $613 million, a 23.8 percent year-over-year increase. The
cancellation rate for the fourth quarter 2007 was 19.7 percent, resulting
in a book to bill ratio of 1.44. Backlog at December 31, 2007 was $2.65
billion, an 18.6 percent increase over backlog at December 31, 2006. Net
days sales outstanding at December 31, 2007 for the full year 2007 were
50.8 days. Cash flow from operations for the fourth quarter 2007 was $80.5
million, resulting in full year 2007 cash flow from operations of $226.7
million, a 21.0 percent increase compared to full year 2006 cash flow from
operations. At December 31, 2007, PPD had $502.4 million in cash, cash
equivalents and short-term investments, and no long term debt.

"PPD closed out 2007 with a solid finish in Q4 as evidenced by strong
bookings, an exceptional book-to-bill ratio and a backlog of $2.65
billion," said Fred Eshelman, chief executive officer of PPD. "With this
finish and our new senior management team in place, our development
business is positioned for solid performance in 2008. In addition, with the
advancement of several of our compound collaborations, including Takeda's
submission of the alogliptin NDA in late December, we are particularly
excited about the potential maturation of our compound partnering
business".

PPD will conduct a live conference call and audio webcast tomorrow,
February 7, 2008, at 9:00 a.m. EST to discuss fourth quarter and 2007
year-end results. A Q&A session will follow. To access the webcast, please
visit http://www.ppdi.com and follow the directions under the Investor
Presentations & Events link in the Corporate section of the PPD Web site. A
replay of the webcast will be available shortly after the call. The
conference call will be broadcast live over the Internet, and the live call
may be accessed via the following direct dial numbers:

Participant toll free dial in: +877 644 0692

Conference ID: 30076135

PPD is a leading global contract research organization providing
discovery, development and post-approval services as well as compound
partnering programs. Our clients and partners include pharmaceutical,
biotechnology, medical device, academic and government organizations. With
offices in 30 countries and more than 10,200 professionals worldwide, PPD
applies innovative technologies, therapeutic expertise and a commitment to
quality to help its clients and partners maximize returns on their R&D
investments and accelerate the delivery of safe and effective therapeutics
to patients. For more information, visit our Web site at
http://www.ppdi.com.

Except for historical information, all of the statements, expectations
and assumptions contained in this news release, including expectations and
assumptions about company growth and the prospects of PPD's compound
partnering, are forward-looking statements that involve a number of risks
and uncertainties. Although PPD attempts to be accurate in making these
forward- looking statements, it is possible that future circumstances might
differ from the assumptions on which such statements are based. In
addition, other important factors which could cause actual results to
differ materially include the following: continued success in sales growth;
loss of large contracts; increased cancellation rates; failure or refusal
of the FDA to accept or approve the NDA for alogliptin, risks associated
with the development and commercialization of drugs, including earnings
dilution and obtaining regulatory approvals; risks associated with and
dependence on collaborative relationships; the ability to attract and
retain key personnel; rapid technological advances that make our products
and services less competitive; economic conditions and outsourcing trends
in the pharmaceutical, biotechnology and medical device industries and
academic and government- sponsored research sectors; competition within the
outsourcing industry; risks associated with acquisitions and investments,
such as impairments; and the other risk factors set forth from time to time
in the SEC filings for PPD, copies of which are available free of charge
upon request from the PPD investor relations department.

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